SK Biopharm posted its strongest results on record, driven by accelerating U.S. growth of its epilepsy drug cenobamate, sold in the United States as Xcopri.
The company said in a regulatory filing on 7 that its first-quarter operating profit on a consolidated basis totaled 89.8 billion won, up 249.7% from a year earlier. Revenue rose 57.8% to 227.9 billion won.
A company official said the quarter was notable because operating profit came in close to 90 billion won even as research and development and marketing costs increased from a year earlier, marking an all-time high. The official added that a structure in which sustainable profit and cash flow generated by cenobamate are reinvested into R&D is taking hold, putting the company on what it described as a virtuous cycle.
Net profit was 102.7 billion won, up 423.5%. U.S. cenobamate sales rose 48.4% to 197.7 billion won, supporting the overall gain.
Prescription metrics also improved, the company said. In March, total monthly prescriptions (TRx) approached about 47,000, and new patient prescriptions (NBRx) topped 2,000 for the first time.
For further growth, SK Biopharm said it submitted a New Drug Application to the U.S. Food and Drug Administration in March for an oral suspension formulation. It is also seeking to file within the year to expand indications to primary generalized tonic-clonic seizures (PGTC) and pediatric patients.
The company is also pushing overseas expansion. In China, it began commercialization in March through partner company Ignis Therapeutics. In Japan, it said approval procedures are under way within the year.
The company said in a regulatory filing on 7 that its first-quarter operating profit on a consolidated basis totaled 89.8 billion won, up 249.7% from a year earlier. Revenue rose 57.8% to 227.9 billion won.
A company official said the quarter was notable because operating profit came in close to 90 billion won even as research and development and marketing costs increased from a year earlier, marking an all-time high. The official added that a structure in which sustainable profit and cash flow generated by cenobamate are reinvested into R&D is taking hold, putting the company on what it described as a virtuous cycle.
Net profit was 102.7 billion won, up 423.5%. U.S. cenobamate sales rose 48.4% to 197.7 billion won, supporting the overall gain.
Prescription metrics also improved, the company said. In March, total monthly prescriptions (TRx) approached about 47,000, and new patient prescriptions (NBRx) topped 2,000 for the first time.
For further growth, SK Biopharm said it submitted a New Drug Application to the U.S. Food and Drug Administration in March for an oral suspension formulation. It is also seeking to file within the year to expand indications to primary generalized tonic-clonic seizures (PGTC) and pediatric patients.
The company is also pushing overseas expansion. In China, it began commercialization in March through partner company Ignis Therapeutics. In Japan, it said approval procedures are under way within the year.
* This article has been translated by AI.
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